Current economic pressures on chain drug retailers are intensifying — in addition to tremendous cost pressure on inventory, the cost of labor is up. All while labor shortages faced by many in the industry create additional operational challenges. At the same time, the shape of the prescription drug industry is changing, with emerging offerings like
Chain drug stores are facing unprecedented challenges on several fronts today, not the least of which is the need to grow merchandise sales. The continuing trend of mail order prescriptions takes foot traffic from the stores. New nontraditional offerings such as Amazon Pharmacy and Cost Plus Pharmacy, Mark Cuban’s new venture, further threaten to erode
Amazon has spent the last few years methodically entering the retail pharmacy market. Powered by their day one attitude, over 100 million Prime households in the U.S., and a penchant for disrupting large, inefficient industries, Amazon is well positioned to disrupt and gain significant share of the U.S. pharmacy business. Doing this will further strengthen
As society is becoming vaccinated and moving through 2021 further past the height of the COVID-19 pandemic, we find ourselves in a world much different than it was just 15 months ago. The changes necessitated by the pandemic shutdowns have permanently changed many behaviors and transformed several aspects of customers’ lives. People will be working
